The ‘Grossest Market’ is no more, liquidation and receivership beset Aaron Drever

Regular readers will know we have been closely following the fall and demise of Aaron Drever.

His latest venture has collapsed.

Aaron Drever’s ‘Grossest Market‘ has tipped into liquidation:

Another piece of wreckage has been added to the pile of former Nosh debris with the liquidation of The Grocer?s Market store in Mt Eden.

The company behind the store, TGM Trading, which acquired some assets of the former Nosh Group last year, was placed in liquidation by its shareholder, Aaron Drever, today.

Damien Grant of Waterstone insolvency was appointed as liquidator.

Mr Drever and Mr Grant did not immediately return calls seeking comment.

Mr Grant is also the receiver of Nosh Group, which sold store fitout and brand assets to TGM Trading.

It is understood those assets were sold on credit and that Mr Drever secured the purchase with collateral from a family trust.

Mr Drever is a former real estate agent whose licence was cancelled in November 2016 by the Real Estate Agents Disciplinary Tribunal for repeated misconduct.

I think that these clowns might find people challenging the appointment of that particular liquidator, mainly due to the related-party transactions that have been going on in the background.

In other news, the company that formerly had the assets has also been tipped into receivership.

Old Auckland Grocers Market Limited has appointed a receiver, John Gilbert, who also has a less than savoury background. Aaron Drever was the sole shareholder and Director of that company too.

It looks like Drever’s house, which he said guaranteed everything, might be at risk.

Radio NZ also reported:

The Grocer’s Market was opened just three months ago by disgraced real estate agent Aaron Drever – who was stripped of his licence in 2016 after racking up nine disciplinary findings – after Mr Drever bought the remnants of the Mt Eden Nosh supermarket after it went into receivership.

C & C Strategic’s John Gilbert was appointed receiver of the Old Auckland Grocers Market by an unknown supplier this morning, and the receiver Mr Drever purchased the Nosh store from – Waterstone Insolvency – has been appointed liquidator of TGM Trading, Mr Drever’s trading company.

“The unsecured creditors are unlikely to be paid, the staff might be paid depending on the level of the debt and how much I can sell the stock for,” Damien Grant from Waterstone Insolvency said.

“My client who financed the business will probably suffer a shortfall.”

Mr Drever had told?Checkpoint?on three occasions that he would sell his home to pay suppliers if necessary, but Mr Grant confirmed to?Checkpoint?today that Mr Drever no longer owns a home. Mr Grant said it had been placed in a trust.

Checkpoint?has spoken to more than a dozen suppliers and employees who are owed money, the smallest bill being less than $700 and the largest more than $30,000.

Tauranga produce company Vision Fresh filed a high court claim in December last year, claiming it was owed $25,000 and Logotech, a Tauranga uniform supplier, filed a disputes tribunal claim for $3416.

Mr Grant said the total debts are less than $1 million: “It will be a small to medium insolvency.”

“At the moment the store is open and the trading enterprise, the staff and the stock, that sits with me as liquidator. We are trading the business at the moment to give the receiver the chance to sell the business,” Mr Grant said.

He said there were parties interested in purchasing The Grocer’s Market.

Mr Drever could not be reached for comment.

My sources tell me that a sale was imminent for the assets alone. It appears that sale has not materialised, hence the appointment of a receiver.

Damien Grant sounded rather slippery in the interview with John Campbell. I think creditors will want to have a good, close look at related-party transactions.

The media who ran the good news stories when the store launched should hang their heads in shame.

Meanwhile, there are people out there speaking to people I know. They need to come in out of the cold, confidentially of course.


-RadioNZ, NBR